Network CFO
President of the newly launched Network NFT Studios
The financial highlights for Network's Fiscal 2022 include the following:
- Revenue. Network's 2022 revenue was
$12.4M (2021 –$3.5M ); - Net and Comprehensive Income (Loss). Network's 2022 net income was
$597K (2021 – net loss of$2.5M ),$0.01 income per share (2021 – loss per share$0.03 ); - Adjusted EBITDA. Network's 2022 adjusted EBITDA was
$1.8M (2021 – loss of$1.9M ),$0.02 income per share (2021 – adjusted EBITDA loss per share of$0.02 ); - Contracted Backlog. Contracted future revenues of
$6.3M with$2.9M expected to be recorded in the next six months and$3.4M expected in seven months and beyond.
The financial results for Network's three months ended Q4 2022 include the following highlights:
- Revenues of
$2M (2021 -$1M ); - Net and comprehensive income of
$0.3M (2021 – loss of$0.7M ); - Adjusted EBITDA income of
$0.02M (2021 – loss of$0.03M ); - Income per share of
$0.00 (2021 – loss per share of$0.01 ); - Adjusted EBITDA income per share of
$0.00 (2021 – adjusted EBITDA loss per share of$0.00 ).
Throughout the year, Network also continued production on two feature-length documentaries that are expected to be delivered in Fiscal 2023.
Network's Fiscal 2022 Select Highlights:
Tom Lombardi appointed President ofNetwork NFT Studios ;- Network announced a broad-ranging
NFT Partnership with theHockey Hall of Fame ; - Sony Pictures Producer
Rick Mischel appointed advisor forNetwork NFT Studios ; Brian Gersh appointed President ofNetwork Entertainment USA ;- Premiered four-part docu-series, Women Who Rock on EPIX;
- Network partnered with the
Hockey Hall of Fame and CTV/TSN for the new 10-part plus Encore Episode series Legends of Hockey: Greatness Calling 2000-2020, which was partially delivered in Fiscal 2022; - Delivery of an award-winning feature-length documentary to Apple+, entitled SIDNEY, focusing on the life and legacy of
Sidney Poitier .
About
The Network premium brand of content delivers world-class casts and features visually cinematic, richly crafted storytelling. The Company's productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings, and unparalleled media coverage for Network and its partners. Newly formed
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Cautionary Statement on Forward-looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. These statements are necessarily based upon management's perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions that, while considered reasonable by management of the Company as of the date of such statements are inherently subject to significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially, being incorrect. All forward-looking information in this news release involve known and unknown risks, uncertainties and other factors that are beyond the control of the Company and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE
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